[KenwhyKen]

Silverback84 wrote:

Applied for a 4rm HDB flat (sale of balance flat)went for the 1st appt and now waiting for 2nd appt. CSO told us need to upfront 10% down payment as the flat is already built. Estimated $35500 including stamp fee. Our total CPF is about $20000. My on hand cash $20000. She does not have cash as she is servicing her current house lian with her parent.

My gf and I planning for renovation and wedding. So happy and excited... we went to see wedding rings. Then at her parent house a saw a bank letter addressed to her i opened and saw her credit card debt is a total of $19k. At that point I'm so angry and pissed. Why did she not tell me.

I confronted her and broke down in tears. She signed up the bank's cashline to pay her dad's debt and her beauty treatment. Suddenly i realised i cannot afford the renovation. Any sound advice if u were in my position?

19k debt still pretending that everything is fine....

[begintoend]

TS, make sure gf surrender all income to u. U give her the allowance. U use her $$ to pay off debt. Use part of your $$ to help clear the 19k. Target by 1 yr clear all.
iirc housing bank loans are more affordable. If your hle cannot dan get the bank loan. Reno slowly.

Most impt, the 2 of u have to live as if your mthly income is 1k/ mth

[Silverback84]

Gixxerfied wrote:

And her reaction?

I asked her beauty package cost 7k? Other 7k is her dad's debt.

What nonsense? She trying test whether I cash rich ?

[asymmetric]

LL loh. what can u do.

[OngKen]

bioinformatics wrote:

Agree. To addon Her dad debt is also your debt.

to add in somemore, i think gg to court for credit card debt will not land her in jail, but i think default in alimony, the ex-wife can sue the ex-husband n throw him into jail...........

[uncle168]

Information for Bankrupts

[KenwhyKen]

Gixxerfied wrote:

My wife then gf also 0 savings when i know her..Force her to save and i hold on to the money she saves..

yes this is the way u should do it

[Silverback84]

CyanCyan wrote:

hmmmmm myself was in such a situation too, but with correct planning will be able to pull thru properly.
Right now at least you know the debt your gf is in.
So at least you know, so dun let it snow balled further.
19k interest every month will be so high that it's no longer worth it to service the interest. so need to work out what she have in assets now to clear it.

As for your housing.. maybe can delay those that can be delayed. Or rather dun get the house 1st. or just apply for BTO.
Have to wait means have to wait. No other choices. You might want to consider loaning your 20k to her to clear it.
Otherwise really snow balled interest is not a kidding matter. get it sorted and start a fresh.

Even GCP has to understand the situation.
a few ways..
1) you take the risk and loan her the amount to clear debt.

2) Take up a loan (I taking this now from ANZ, 0% interest, up to 4 months salary amount.) Just pay a few % of admin fee, and the loan period can be a year, then you pay off every month. Using the amount loaned, pay off the debts. Becos of the hige amount, you sure save on the interests. But that will means struggling for a few years. But have to start somewhere, no matter the amount, at least you pay off a bulk of it. I loaned 8k, I am paying off about $660 per month for 12 months.

3) talk to her parents, then see if they can already pay off her daughter's housing loan. I am guessing your GF's name is in their house too. (which makes me wonder how she managed to get a house with you.) anyways, if your GF can pull out of that house, then her parents have to pass back the CPF already paid back to her.

She needs to sell her current house within 6mths.

[amberlight]

ke lian ts, i imagine my gf to the point of marriage still no wanna say got debt, wanna married liao then give heart attack news... i dare not think...

well, its assumed marriage = happiness... i can't fault the equation though coz peepur ish the onli variables. better than moi, foreber alone 0 happiness

all the best ts to whadever ghost

[Gixxerfied]

Silverback84 wrote:

I asked her beauty package cost 7k? Other 7k is her dad's debt.

What nonsense? She trying test whether I cash rich ?

damn, 7k??

No wonder i always tell my wife..女人的錢容易賺

[cheapcheep]

I think first thing first, is to ask yourself is this the girl you want to marry and if yes, then does she know what she got herself into.

Don't save and splurge, I still can accept. But to use cashline to splurge, that's an absolute taboo.

[Summer78]

TS, if you intend to marry your gf and spend the rest of your life with her, dun give up the flat. Get the flat first and reno later.

In the meantime, settle the CC debt and save like siao. All the best TS.

[dskw]

Silverback84 wrote:

I asked her beauty package cost 7k? Other 7k is her dad's debt.

What nonsense? She trying test whether I cash rich ?

i feel for you, bro

i think most of us here would want to scrimp and save in order to let our gf/wife have a good life. of course, the other party must reciprocate and not spend money carelessly

hope you get to resolve ur matter soon.

[Soulhacker]

Silverback84 wrote:

Applied for a 4rm HDB flat (sale of balance flat)went for the 1st appt and now waiting for 2nd appt. CSO told us need to upfront 10% down payment as the flat is already built. Estimated $35500 including stamp fee. Our total CPF is about $20000. My on hand cash $20000. She does not have cash as she is servicing her current house lian with her parent.

My gf and I planning for renovation and wedding. So happy and excited... we went to see wedding rings. Then at her parent house a saw a bank letter addressed to her i opened and saw her credit card debt is a total of $19k. At that point I'm so angry and pissed. Why did she not tell me.

I confronted her and broke down in tears. She signed up the bank's cashline to pay her dad's debt and her beauty treatment. Suddenly i realised i cannot afford the renovation. Any sound advice if u were in my position?

Ask your boss to reduce the salary of both you and your gf combined to be <=1K per month, like that sure can afford HDB flat as already guarantee plus chop by higher mortal liao.

Or downgrade to 3-R lor, our higher mortal also said before your head not so big then don't hear bigger hat.

And also no need renovation mah. Last time moi family not so wealth off move into the new flat ish no renovation, just self-service paint the wall and buy those cheap cheap floor mattress to cover the floor and like that we can live for decades liao.

Last but not least, go ask around see any bank still got offer 50yrs loan or not and take it lor.

[coolmyth]

Beauty treatment?!?!?

As said, dun give up the house. But hold the reno.

As for the cc debt, see if her side can find anyone to support in clearing it. But mostly you have to help out quite a bit.

To be honest, $19k is definitely clearable though its not a small sum. Contact the bank and see if can work out any installment plan to clear it off. Bank also want their money back.

In the meantime, kan your gf (wife to be) and tell her to manage her money properly or theres really nothing else you can do. Also, watch her expenses carefully too.

For you, dun heartbreak over your savings. $20k can slowly save back but all the effort and time to build up the relation will be a terrible waste if you give up on her.

Good luck.